The new report claims that a "high-up person" associated with Jay-Z has confirmed that plans are "a go". BoyGeniusReport had previously discounted the July rumors based on a source close to both Jay-Z and Beyonce. Jay-Z recently stepped down as president of Def Jam records after his contract expired on December 31st, saying that "it's time for me to take on new challenges."
In February 2007, Apple, Inc finally settled with Apple Corps and won rights to all trademarks related to "Apple". As a result, Apple, Inc would have no legal hurdles preventing it from fully entering the music industry.